NSE:ASHOKLEY has given more than 10X return whenever it touched the lower trendline in long term chart.
Stock : Ashok Leyland
CMP : 53
Current PE : 16
8 Years Average PE : 27
Entry Range : 40 - 45
Stop Loss : 38 - 35 ~ 20%
Swing Target : 57 - 60 ~ 35%
Positional Target : 80 - 90 ~ 100%
Long Term Target : 300 - 350 ~ 700%
Sail has formed a trendline and its near demand zone. If this zone holds the price and trendline is broken then sail can see an upside towards 33-55 levels. wait for a breakout with high volumes.
Please Note - All the green lines mean the support zone/demand zone
and all the red lines mean the resistance zone/supply zone.
Looks a good buy above 4164. Stoploss and Target details mentioned on Chart.
If it comes down, check for reversal around 4000, if reverses take a trade with SL close below trendline.
Disclaimer - Please do your own analysis before initiating the trade.
CMP @ 1027
1) PCR for June expiry is 37.11% Sign of Bullishness
2) RSI divergence in 30 min, 1 hour, 2 hour Time frames
3) RSI recovered from oversold area 17.34 to 34.95
4) Good risk reward, almost 1:5
Tight SL : 1007
Target : 1130